PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1261223
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1261223
Global Carbon Fiber Tapes Market is valued at approximately USD 2.31 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.4% over the forecast period 2022-2029. Carbon fiber tape is a type of strengthening tape made of thousands of parallel carbon fibers that are slightly bonded together. The use of fiber tape is ideal for lap joining, sleeve winding, selective strengthening of carbon fiber fabrications, and fixing fissures in graphite surfaces. It6 widely utilized material in the production of composite parts for automotive and aerospace components is carbon fiber tape as it offers properties such as light weight, high strength, and high rigidity. The rising focus on clean energy technologies, increasing application in aerospace, coupled with the growing awareness regarding the properties of carbon fiber tapes are the key factors that are stipulating the market demand across the globe.
In addition, the surge in the adoption of carbon fiber tapes in primary and secondary aircraft structures is further acting as a catalyzing factor for the market growth in the worldwide market. For instance, in the latest generations of aircraft, like the Airbus A380, Boeing 777x, and Boeing 737 MAX, carbon fiber tapes are highly utilized. The wing spars, wing skin, and six-section panels for the wing box of the recently introduced aircraft MS- 21 by Russian company Irkut, were made from carbon fiber tapes. Carbon fiber tapes account for 58% to 60% of the aircraft wing's carbon fiber material. The novel design of aircraft in the future is anticipated to benefit market growth at a substantial rate. Moreover, the rising penetration of carbon fiber tapes in new applications, as well as the growing focus on the advancement of the recycling process are presenting various lucrative opportunities over the forecasting years. However, the high processing and manufacturing cost of carbon fiber and the transition of thermosetting resin to thermoplastic resin in prepreg carbon fiber tape is challenging the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Carbon Fiber Tapes Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing number of leading manufacturers of aircraft, along with the thriving expanding aerospace & defense industry. Whereas, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising focus on replacing conventional metal components through utilizing advanced materials with lower weight and high strength, as well as growing R&D investment in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable